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'm kelly evans. these are your headlines from around the world. >> eu leaders are nearing a historical deal in brussels which could see the region's spending reduced for the first time. >>> chinese trade going gang bust ner january while inflationary pressures ease off thanks in part to the lunar new year effect. >>> this company must not disappear. that's the french government. it says it may invest in peugeot. >> and the yen says the currency has weakened too much. >>> welcome to the final program of the week. i'm pleased we've got to this day. >> we've had a lot of time together this week. i have. and that's not why i'm pleased we got to this day. >> yeah, yeah. >> strong numbers out of china. >> that's right. we saw a big improvement there. but i have to say frankly, most people's attention whether it's here or on the other side of the pond is the snowstorm. it seems like winds, 50 miles per hour. blizzard conditions in the u.s. we know when there's a storm like that headed for the biggest media market frankly in the world, it's probably all you're going to hear about for a while. >> th
. i know what that poll is saying, but i think there's a lot of confusion between the euro and the eu sometimes. i know that people think of the eurozone and the eu as sort of the same thing. >> the whole message from the conservative government has been a little confused. it's interesting and we'll play this a little later, but -- >> but they want to stay in the eu if they can negotiate new terms. you punish about there's a split in there because there will be one wing of the party that is essentially we want to stay and he are negotiate. the question comes is if they can't get everything they want, do they then say we tried, but we still better stay? a whole other wing of the party says, if we try and we don't get what we want, then we had better leave. >> and it's interesting. we asked earlier tr week about whether it would be bad for business if britain left the eu. actually, he seemed to say yes. in every the less, i think he serves in some capacity with the government, as well. he hesitated a little bit and says, well, yes, we'll play that tape. >> and how many other people actu
year. >>> and the eu moves to clamp down on big paychecks in the banking sector, looking to cap bonuses on a banker's salary as early as next year. >> announcer: you're watching "worldwide exchange," bringing you business news from around the globe. >> okay. we're back. you're mobiled up and we have some data. >> yes. it's such a mobile world, isn't it, in many ways. let's first talk about what's happening with the german unemployment figures. we were waiting on these. it turns out 6.9%, that is the unemployment level for germany in january. the unadjusted figure is 7.4%. it's higher than expected. you can see the forecast was for 6.8%. the prior month was revised higher. the rate itself was unchanged. that's a right i think here in london or certainly in the u.s. they wouldn't mind seeing at this point. >> we've created a million private sector jobs. >> in britain? >> yeah. >> well, congratulations. >> there you go. that is the great conundrum, right? >> it's true. the different between -- well, and even with germany. the liesh market social security holding up, despite the sharp contr
. we have francois hollande today speaking to the eu parliament. he's going to lay out his vision for the eu against that economic back drop. >> isn't it amazing? we come into the week yesterday with everyone still talking. you have that great barons cover, you come in, just get the risk trade massively off. and the question for today and the rest of the week is frankly whether that's a bump in the road or the start of a down trend. >> you have the front cover, these are all good contra indicators. >> sorry, media friends. but this is not exactly the best of -- >> we always have timing. on today's show, we're in zurich where we hear from the ceo of ubs about the group's outlook. the swiss bank won to a loss in the fourth quarter. >> and is we'll head out to california for a look at the next offer. it's due to be released later today. we'll be live in madrid as the spanish prime minister's party pledges to fight corruption allegations that have prompted calls for his resition naz. >> and for its to earn its annual forecast on a weaker yen, we have in-depth analysis at 10:40 cet. be
for italy's election. we'll get a check on europe's growth process spengts for the eu forecast. we'll head live to brussels for a live press conference. in other news, boeing is set to unveil a plan to help its troubled dreamliner to take flight today. and we're rolling out the red carpet. we'll head to tinsel town to the biggest night in hollywood. find out which films are tipped to win big at this year's oscars. fears are mounting that an inconclusive election this weekend could undermine the euro and set back markets in italy. hans, as we edge closer to that event, polls open sunday and they close on monday. we've seen the two-day sell off. is it related to the outcome here? >> well, i think the italian election has had an impact on market performance for the past few weeks. i guess that markets became much more cautious in investing in the debt market in italy and maybe as well as the debt market in spain, the cause of the potential inflation risk here. now, if we are getting an election result which markets may like, then the very clear majority left and under those circumstances, you
. we have the composite eu gdp number, down 0.6% quarter on quarter. that's what we're looking for and this comes after a weaker than expected german number today, as well. to the extent we talked, italy contracted 0.9%, worse than expected. and revisions to france suggested that they already had a recession in the first and second quarter of 2012, as well. ur low/dollar, just hitting the lows of the session at 133.40. kelly. >> ross, let's slip through the u.s. markets. we are looking for the dow to shed about 20 points from the open. the nasdaq, dow and s&p headed lower. yesterday, we did see a lot of the european indexes hitting intraday highs. china, taiwan, vietnam still closed to celebrate the lunar new year. the nikkei has been the big mover overnight. the ftse 100 after hit ago five-year high yesterday, weaker towards the close today. gig up about a rt yeaher of 1%. interestingly, we're seeing weaker sterling and higher bond yields in the uk. not necessarily the best sign of internal dynamics for britain. germany gdp figures are down. the cac 40 down only about 0.1% tod
a warhead small enough to fit on a long range missile. the eu secured council called an emergency meeting. chery joins us now from seoul. can you tell us first of all what the general reaction has been there and a lot bit about the impact of the economy. we're watching, for example, the south korea and won take a hit this morning. >> well within not much of a reaction on the kospi. it did end down just about 0.26% here. but i wouldn't say it's a big tumble and it is korean won gained. i think by now investors have learned that north korea related tensions and developments, geopolitical issues like this have had impact on the korean market. so that explains the absence of such strong reaction on the stock market. but the latest that we have on this development is that we have china's reaction to north korea's nuclear tests, as well. china's foreign ministry statement goes that it is china's firm stance to realize nonnuclearization for the korean peninsula and prevent a nuclear proliferation and maintain peace and stability in northeast asia. remember, china is north korea's probably one an
registrations across the eu slumped to an all-time low in january. >>> government delays its decision on the next bank of japan governor. is this the beginning of a more moderate japanese agenda? >>> and we're live in milan as the italian electoral race enters the final stref. we'll hear just why the mayor will decide to vote. >> announcer: you're watching "worldwide exchange," bringing you business news from around the globe. >> all right. welcome to today's, a bit of a transport theme going on this morning. >> or lack thereof. >> well, there's bmw, has their recalled. you have to take your one and three series back. >> the thing about the bmw is people have to take them to the special bmw shop, anyway. when you have a recall like this, it's a pretty straightforward process for owners. >> then making a replica of the "titanic." some people are worried they're making it in a chinese shipyard. >> they're pitching this with "titanic" with a twist. some say the twist should be maybe this time it won't sink. >> they are going to do the original sailing route. what happens when they get th
. >>> nicholas anastasia swept to an election victory on sunday. he pledged to work with the country's eu partner toes secure a swift rescue package, insisting that the new government would prepare such an image around the world. >>> and a slowdown in chinese exports has been pulling back on the economy. it posted a fourth consecutive month of expansion. china's hsbc flash pmi index for february slipped to 50.4, the lowest reading in four months and down from a two-year high in january of 52.3. no one is hitting the panic button just yet. >> while the flash pmi slipped from a two-year high in yarn, it tells us china's economic recovery is intact. 6.4 is considered that the week long lunar new year holiday fell in february of this year. look back at lunar new year last year and you can see some of the distortion effect it fell in january 2012. what may be worry background this month's flash pmi is the new export orders subindex. it inched down to contraction territory, add to go existing worries about this sector. taken as a whole, the flash pmi number is the earliest indicator of china's health a
to and hopefully they will now is on trade and the announcement -- trying to do u.s./eu free trade agreement. i think that's really good news, coupled with what we're maybe trying to do in asia. that's at least a little bit of pro-growth common ground that both parties can try to tackle together. >> gentlemen, great to have you on the program. thanks so much. we will be watching many of these ideas manifest in the coming years. see you soon. >> thanks. >> tony fratto, michael beschloss joining us. >>> up next "on the money," the entrepreneur who became china's consult cultural revolution to become a star of america's capitalism. ping fu will join me. >> this is a 3d printed shoe. [ indistinct conversations ] [ male announcer ] when you wear dentures you may not know it, but your mouth is under attack. food particles infiltrate and bacteria proliferate. ♪ protect your mouth, with fixodent. the adhesive helps create a food seal defense for a clean mouth and kills bacteria for fresh breath. ♪ fixodent, and forget it. >>> are entrepreneurs born or made? my next guest tells a remarkable story of
, that's the last thing the eu or the eurozone needs right now. just when we get the signal of the panic button in the eurozone debt crisis, we have another cloud on the horizon. but that's nothing angela merkel can influence. i'm sure it's going to be a topic of discussion saying, look, is this going to be a government crisis? can you avert this? that is nothing we will hear about. the official communique will sound similar to what we heard out of paris, out of the monte meeting. don't expect a result on this budget summit yet on the table and on we go to the next rendezvous in terms of the budgets. we've got another eu summit in march, which is not -- which is not ear marked, of course, as a budget meeting, but i daresay we will trickle along nicely or unnicely until finally they reach an agreement on the next budget. in terms of the eurozone debt crisis, of course, that's the other point of discussion. at the moment, there's a little bit of cautious shoulder padd g padding, but it will be a bit more cautious because of the aforementioned festering crisis in spain. obviously, what we'
-claude junker says he expects the eu to real a deep on the budget today. juncker said the last of an agreement would be disastrous for the region. julia is in brussels. julia, are we going to get a budget? mr. cameron has said, look, i don't want it frozen, i want it cut. so what's going to happen? >> well, we're moving in the direction of cuts. i think the positive news is that if you compare what we were talking about in november, we've cut around 80 billion euros from the 1 trillion euro target that they were looking at back in november. so we are moving in the right direction, but with regard to the decision today, i think if you've been listening to angela merkel to david cameron himself and francois hollande this week, the indication is that perhaps we shouldn't be as optimistic as jean-claude juncker would have us believe, but someone has to fly the flag for europe and we like our posturing in europe. overall, what rewe looking at? germany, the uk, the nordic european countries are fighting for cuts, real term cuts in this whereas italy and france would rather have it held steady. even
. we have the eu rising starts, the outstanding british film. but in the major categories, clearly people do look to the bafta the way same they would look to the gloelden gloep globes to see how things were going. "argo" is seen by everybody as a pack leader. there is a strange absence there on best director. whoever wins best director will be remembered as having won in the year that the most significant contender wasn't nominated. >> why isn't he nominated? >> who knows. who knows. i think we got it right, but who knows why he wasn't. one reason is because what they've done with the oscars now is increased the best film from five up to ten. now you have i think it's nine nominations this year. of course you're going to get a mismatch because there aren't the same number of films that there were directed. >> mark, good to see you. thanks so much, indeed. >> thanks for coming by. >> always a very good turn out, as well. >> i still think silver linings with a different name would have done so well. >>> anyway, the clearing up is occurring after nemo. what impact will this have on r
a speech. i'd love to know what they're going to say bearing in mind that they're not exactly pro eu parliament. so that will be fascinating, won't it? let's face it, anti-austerity was the theme of this. bearing in mind, we've got 50% of voters coming around to say grillo or berlusconi, we don't want aus tearpy. anyway, the bill fall guy in this election was the prime minister, the technocrat who ran, marto monte. let's hear what he's been saying in the aftermath of these electoral disaster. >> translator: it's still too early to consider any solution, nor does it rest upon me to find one. but right now, i consider it is essential that there's maximum transparency between the political forces because we're all faced with a very serious responsibility. the government must ensure responsibility for the entire country. >> okay. so more analysis. alana fred reeko joins us now. you've had a big meeting today already, loradonna. you shook my hand. lovely. thank you. no one else did today. what did you guys decide is the way forward? >> following the outcome of the italian election, the si
partnership on trade. she'd he wanted to open a new negotiation, a transatlantic partnership with the e.u. is it your feeling that people are going to look at that and say, okay, at least there's a little part of the business agenda he's pursuing by trying to get down trade barriers? >> one of the criticisms is there had been no new free trade initiatives in his first administration. you know, they acted on some that were previously proposed. yeah, obviously that would be something that -- that businesses would -- certainly want to sell to the world, this for sure. that -- >> larry kudlow was on with us last night and said we don't need a new agreement with the e.u. we've already got agreements with most of the countries involved. so we'll see how much value the marketplace puts on that. >> okay. all right. john harwood. becky's got the next story coming up. just -- a classic. it's -- you know, i got to talk to but this. i really -- let's lets beck dee it. do you have a new view on cayman islands? i know bachus says that mr. lew paid his taxes that he was supposed to pay. this was fully w
the uncertainty created by the u.k. e.u. referendum and scottish referendum on independence. there's a lot of negatives surrounding sterling now. i think it has further to fall. >> we'll leave it. there we want to get your thoughts on employment, as well. we'll be right back. >>> welcome back to "worldwide exchange." let's go straight to a look at what's happening with sterling. we have seen it drop below the 154 level. bank offen land minutes just -- of england minutes just showing fisher and miles would have liked to see a 25 billion pound increase in the size of the quantitative easing program. also comes as we learn that the u.k. unemployment rate held at 7.8%. slightly better than expected drop in jobless claims. average earnings growth remains weak. here's what's happening across the gilt curve. yields coming in at 2.4%. and james, at least the gilt yield is coming in. i suppose the markets would be most worried if the opposite happened, if it were to push out here. it's interesting to hear the bank of england say they think pound appreciation is expansionary. perhaps they look at th
about, well, for the moment, the eu -- we have that kind of psychological factor. a healthy private sector. and the problem is what? the problem is government and bad policy. and that's what we have to offset. >> but jim iuorio, i want to know where to invest. do we buy gold, silver, and commodities? do we buy banks, which are lagging a little bit? do we buy industrial cyclicals to play the world boom, if there is such a thing? in other words, how do you invest right now, having passed this 14,000 benchmark? >> well, there's a couple things. first of all, when caterpillar released its earnings it talked about good numbers out of housing. and you stloe in china. you invest in things like copper. you know i still like gold and silver. and today with the green light from the fed i'm still going to stay in things like those. i am in bank of america. i am in health care. i think the stock market looks pretty good. you said before, though, the stock market tends to be a leading indicator of the economy. when the fed pumps in so much money and global banks pump in so much money, i think yo
will barely grow for the whole of the 27 nation eu. they will contract again in 2013. sign number three provided by the federal reserve bank of st. louis, james bullard today on squawk box. >> it is very easy and it will stay easy for a long time. i think policy is much easier than it was last year because i think that the outright purchases are more potent tool than the twist program was, and we replaced the twist program with the outright purchases. i don't think the market has absorbed that switch. >> giving you their analysis of those signs in a moment. but first, let's focus on the price action we have heading into the weekend. bob pisani has that. >> remember we started falling apart when we had the fed minutes at 2:00 p.m. wednesday. that's when the market changed and it changed around when bullard said they would stay for a long time. i think bernanke will imply that next week in his testimony. take a look at the dow. this is what you saw throughout january into february, up until wednesday. slow melt up into the afternoon again. starting to get close to the historic highes. loo
north korea about its nuclear weapon program. he said there will be talks with the e.u. about reaching a transatlantic trade agreement. and marco rubio gave the republican response and criticized obama's programs and proposals as more unnecessary deficit spending. joining us for more, head of european g-10 fx bank of america merrill lynch. welcome. >> good morning. >> want to start talking about europe, about cypress where he got back from. first the u.s. dollar, what's happening with the potential fiscal talks. how concerned are you, what does it moon for trading the currency? >> the u.s. dollar has weakened so far this year because of the overall market risk move that we have seen. positive of surprises in the u.s. at the global level. and looking forward, we were bullish on the u.s. dollar because we see a market correction as the u.s. tightens fiscal policy substantially this year. >> how severe of a correction might that -- >> we believe for the rest of the year the euro/dollar will be closer to 1.30 or below, 1.35. >> really? >> also last week we believe in the way there's a ceil
by iran. e.u.'s ashton who has been involved said the meeting with iran will be on april 5 to 6, as well. the new offer we presented was balanced, fair basis for diplomatic talks. they won't detail what the new proposal are in iran. >>> and paris eads sharply higher after the aerospace group posted a better than expected full-year earnings profit as well as predicting a rise in earning in 2013. we have more. >> reporter: it's not a big surprise. a few weeks ago the ceo of eads said the company will be able to improve significantly its revenue and operating profit thanks to all of the divisions of the company. the main being the commercial aviation unit. also strong performance at europe copter, astrium for satellites and defense activities. all in all the operating profit beat expectations. 68% increase for the past year. three billion euros. the revenue was stronger than expected at $56 -- 56.5 billion euros. the most important is the outlook for this year. eads targeting a higher profit with an operating profit of 3.5 billion euros before exceptional items. 610 deliveries.between 600 t
, good to see you. thank you. >>> a bit of news out from google concerning the eu. it is now analyzing google proposals. no word on when they may finish analyzing it. >>> goombling, casinos took in $3.4 billion, up 7% from a year ago. but below forecasts of 10% to 12% growth. analysts attribute the low numbers to the traditional lull before the new year. this is all in macau, of course. these vip gamblers have scaled back their betts last year because of the uncertain economic outlook and the clampdown on corruption. in the auto world, toyota says its china sales are looking up. the world's largest carmaker sold more than 72,000 vehicles in china in january. that's up 24% from a year ago. it was toyota's first year on year growth since june 2012 in the country. anti-japanese sentiment has been hurting sales in china. but on the domestic front, toyota sales slipped 15% in january as government incentives expired. honda suffered an even steeper 53% drop. and staying with japan, we're seeing a couple of old school japanese electronics. toshiko has the story for us. >> hi, ross. struggling
of the bulge names in part because of the eu risk is higher in those. how serious do you take a day like today on that front? >> well, our biggest concern really is the continued unstable nature of greece. i think spain and italy will be fine as long as greece doesn't create a chain reaction, which i think it will. and i'm still very concerned about what is going on there. but as you guys pointed out, you know, you came into early 10, early 11, early 12 and felt good, trends were good and the eu kind of put the kibosh on ceo confidence and capital markets activity. i'm concerned about that. >> you seem less worried. >> we're more worried about the u.s. economy. i think what we're seeing now in the marketplace makes sense. we had the megabanks lead the rally late last year. we recently have switched to the regional banks outperforming the megabanks and now we're getting that normal consolidation period which is to be expected. look at the ten-year treasury yield, that's what we say. if above ten for first quarter -- above 2% for first quarter, then earnings estimates will probably go higher. wh
. >> now we go into a full eu heads of state summit. it will be interesting to see if that theory about the euro gains further traction. >> let's roll out the red carpet and watch for the arrivals. thanks, simon. let's get to rick santelli in chicago, where we're still talking about your punch bowl this morning, rick. >>> i'll tell you what, it never ceases to amaze me where somebody like mr. rubin could say nobody could have nope, and yet the government singles out s&p. there's more to this story, or maybe there isn't. like i said, you can't fight city hall. one guy always fighting the battle keeping us informed about what may or may not be happening in europe is mark brand, southwest securities. mark, you were just listening to mr. draghi, and many of your comments, along with many traders on this floor, everyone was wondering when a big salvo to lower the value of the euro will be emanating from europe to keep up with the japanese. has that day arrived? >> no, the day hasn't arrived ye. i'll tell you what has arrived. the way the eu works with the 17 people and the 17 countries in th
. in europe, the eu summit continues. but the action really taking its cues from china this morning. we have green arrows across the board in europe. take a look at asia. strong eco data out of china in focus. much more on that in just a moment. the road map begins at the golden arches. not even the cheddar onion burgers could help mcdonald's. they missed estimates in every region. asia was down a whopping 9.5%. >> exports boomed 25%, inflation cooled, but met expectations, capping off a two-week winning streak for stocks. >> a blowout quarter, users increase continued in momentum. >> the storm could be one for the record books. forecast calling for as much as 2 1/2 feet of snow in some parts of the northeast. already more than 3,700 flights have been canceled. we'll get more from the weather channel on the path of nemo. >>> mcdonald's down 1.9 in january. middle east and africa, europe saw a 1%, 2% decline. u.s. the only bright spot. comps up 9%. even some suggestion that asia, which is 40% japan, but also china, got tainted with the chicken contamination scare. >> that wouldn't surprise me
it for greek drag mas. >> once they leave the e.u. another said to combine mitt romney with a dog to kelp indicate i guess how he was traveling -- >> seamus. >> yeah. in the monopoly game. and they're having funny ones, basically saying that they should keep the boot and add a can to the board in order to -- >> kick it. >> kick the can. >> you kick the boot and add a can instead of the thimble. you can kick the can across mayfair. >> there you go. or something. i said they should save it for the european, addition -- >> i don't know that i have that edition of monopoly. >> well -- >> right. plenty more discussion on that. first up, though -- >> adele has agreed to go private in a $24.4 billion buyout led by founder and ceo michael dell and private firm silverlake of the the biggest leveraged buyout since the financial crisis. some are voicing concern about the price saying the board should have held out for $14 a share. one stakeholder is investigating whether the board is breaching its fiduciary duty. and we have editor-in-chief of yahoo! finance. aaron, great to have you. thank you very
responding to the eu budget meeting which is reportedly winding up right now. there has been a lot of auction. adding 20% candidate as i can see here. the stoxx 600 is adding about 0.5% all told. take a look at this, bwin.com, there's talks about new jersey governor chris christie opening up online gaming. it leaves the possibility out there for atlantic city casinos to offer games like poker online. so bwin has a join venture with boyd gaming which is licensed in new jersey. and the view among analysts is that other states, potentially federal legislation could follow suit. this is a small step in the direction of perhaps allowing more and more of the u.s. market to gamble online, like you can already with this one. up 19%. watch shares generally speaking in the gaming session today because you can expect there will probably be some similar moves. just the final word, we saw the yen strengthening avenue the yen appeared to talk down some of its easing moves. the yen was still 1% stronger. the nikkei ended the day 12-day winning streak with one of its longest. back over to you. >> thank you,
-- >> the u.s./eu free trade agreement. >> i disagree with that. >> they have big deficiencies, and actually a bulwark on standard setting -- >> you disagree with the idea of trade -- >> no i definitely think trade boosts growth and want to see more net exports. what i have never seen is a connection between free trade agreements and an increase in our gdp or even our positive trade balance. more often than not -- >> when you look at nafta, haven't they finally concluded that there were more jobs created here because we were selling more? >> no, in fact, nafta is a -- nafta is a good example -- >> trade balance with mexico went negative. i'm saying after nafta our trade deficit with mexico went from positive to negative. >> nothing happens in a vacuum. >> it's a -- >> but -- >> current -- >> intellectually -- >> don't you know that free trade -- >> absolutely. i'm all for free trade. the nafta we were just talking about, it was 1200 pages. it actually doesn't take that long to write a free trade agreement. the nafta and many others -- >> that was shorter than the health care reform bill? >>
. >> you're invited over here. >> we have scotland and then we will have the eu probably about 16 or 17 after the next -- >> i've invited you to be the 51st state over here. >> that's all you will be over here. >> you try to tax us without representation, we'll try to -- >> it's a good number. >> martin b what do you think about the referendum? >> i got myself into trouble by saying that it increases uncertainty. it's what i called the fifth grace one and so there's more uncertainty now. from a political point of view, there's -- >> because of the referendum? right. the prime minister made the right decision. the uk sort of right wing party, it liked the tea party, i guess, in some respects has gained 16% of the vote according to the polls. take more from the trres or from labor. so i think the prime minister was concerned about that. having a referendum laid it out. we did some polling, online polling after the speech. they thought the referendum was right. content of the speech was good, they would vote for the coming out of. there's a lot of work to be done until we get to the refere
driven by growth worries coming out of the eu. take a quick look at the damage that's brought in terms of the currency board. the euro over here, there we go, dooits it's down about 0.8%. as for sterling that's also weaker, but just a little bit. the dollar did strengthen significantly after the fed yesterday. everyone is saying it's an overreaction to the fed minutes. we know that what they'ring god is conditions don't stay put. >>> back over here, citi's chairman is not seeking a break-up of the bank. a story in today's wall street journal says michael o'neill was among those encouraging investors not to break up the bank. he is backing abroad cost cutting plans, but exploring a break-up is no longer said to be among his top priorities. >>> and top equity firm sports ing represents tennis players and lots of people including super model giselle bundchen. back in the day owned roger federer. the decision to sell has been driven by the trustee who own tess state of the former ceo and chairman. peemp say it could fetch mother than $2 billion, but there's a huge fight going on among the
some of the things necessary to live up to their commitment to the eu. does this throw a wrench into the works? >> i think we should be thinking about it. the somewhat untold story is that -- >> you heard of this guy before this? >> absolutely. >> was he funny. >> he's funny. it would be a little bit like -- >> jackie mason? >> no -- >> seinfeld. >> robin williams or somebody. he was big in the '80s this guy. he also has been a big part of the political satire, all the rest of it. very, very bright guy. but you know, it's almost an a listic party. it's july real just truly a protest vote. to my knowledge it's gotten over 25% of the vote, the latest thing i've seen. monti is the best of the best. i honestly believe that is one of the, you know, on democracies it's easier to give stuff away. >> two years ago he had just started and i asked why are these pictures of monti in a beach chair. and they all said send monti to the beach. that was two years ago. >> yeah, he's only been in there a group -- grillo is moving. five-star movement is only three years old. it's a very organized,
job opportunities for -- and the eu commission is already discussing this i think this is something that has to be added, and that, i hope, will also increase the understanding of the population of these countries. >> what do you think about what the bank of japan is doing right now with its policies, really pressuring the yen, that adds pressure, in turn, to the euro, which has pushed higher, versus the yen on these things, the u.s. watches that very closely. what do you think of their policy? >> yes, of course, we do watch it. but i think it's much overblown to speak of the currency war, something like that. what we observe is that the japanese central bank, the japanese government, wants to avoid the deflationary development, which i think makes a lot of sense. so i'm not too much concerned about that. >> so it's not a beggar thy neighbor policy at this point with the central banks around the globe? >> no. if it really leads to higher growth, that is the intention to have, then it's not beggar thy neighbor, then it's something that is helpful for all of us. and with regard to the
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